CAP Speaks Out On Tax Write Offs

According to the latest CP news report out of Ottawa, '- The Canada Revenue Agency has written off almost $2.4 billion in taxes owed but never paid after an internal audit found there was little likelihood of ever collecting the money. The writeoff is the largest in Canadian tax history, and almost $1 billion higher than last year.' Catherine Whelan Costen, Vice President of CAP, says "this is totally unacceptable, according to the report some of these accounts are 4 years overdue and we are told 'Canada Revenue Agency spent an additional $7.8 million in efforts to slow the rise in unpaid taxes, partly by finding new ways to chase reluctant taxpayers.' That is a huge expense to compensate for poor management." CAP states that this is just one more example, which confirms what we have been saying for several years. The report goes on to say, "The agency has routinely written off between $800 million and $1.5 billion in bad debts each year, but in 2004-2005 - prompted by the audit - cranked up the level to more than $2 billion for the first time ever. Still, the purge was less than half of the $5.2 billion deemed uncollectible by the agency's own estimate." The tax system needs an overhaul, as we have said previously; but a complete change in monetary control, including creation, how our money is collected, dispersed and managed would prevent this type of irresponsible crisis in the future. Catherine Whelan Costen, Vice President and Candidate Email: cathpublish@wildroseinternet.ca Fax: 403-684-3464 Cel: 403-660-0449 [Proofreader's note: this article was edited for spelling and typos on July 7, 2005]